Atlas Building & Civil Engineering Limited (03546359): administration
- Status
- Administration ended
- Administration began
- 2023-05-15
- Administrators
- Gareth Prince, Kris Anthony Wigfield
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1998-04-15
- Location
- Northampton
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Cash flow / liquidity pressure
- Rising costs / inflation
- Bad debts / customer insolvency
- Property / lease costs
- Rising interest rates
From the administrators' statement
The Company was incorporated in 1998 with 4 shareholders. The Company specialised in construction of commercial buildings. From 27 April 2017, the Company traded from leased premises situated at 1 & 2 Basford House, Derby Road, Heanor, DE75 7QL.
The share capital of the business was originally held by 4 shareholders. Following the recession in 2008, the Company had insufficient profits to sustain the overheads and salaries of 4 director/shareholders. The Company was then bought by James Lord (“JL”) and Wayne Foster ("WF"), who were appointed directors of the Company on 15 October 2008.
The reasons for the Company’s insolvency
Administrators' statement of proposals (2023-05-25) · Companies House register